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Bank Of America Bearish Moving Average Crossover Alert (BAC)

By David Diaz

Today, shares of Bank Of America (NYSE:BAC) have crossed bearishly below their 10-day moving average of $31.38 on a volume of 18.2 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Bank Of America share prices have been bracketed by a low of $22.75 and a high of $33.05 and are now at $31.12, 37% above that low price. The 200-day and 50-day moving averages have moved 0.32% higher and 0.51% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Bank Of America on July 17th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.89. Since that recommendation, shares of Bank Of America have risen 5.7%. We continue to monitor BAC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Bank of america

Ticker(s): BAC